Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) Stock Position Increased by Orion Investment Co

Orion Investment Co boosted its stake in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 17.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,060,755 shares of the biotechnology company's stock after acquiring an additional 154,470 shares during the quarter. Iovance Biotherapeutics comprises about 3.1% of Orion Investment Co's investment portfolio, making the stock its 10th biggest position. Orion Investment Co owned 0.35% of Iovance Biotherapeutics worth $7,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC grew its holdings in Iovance Biotherapeutics by 63.6% during the 4th quarter. AlphaQuest LLC now owns 4,613 shares of the biotechnology company's stock valued at $34,000 after purchasing an additional 1,794 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Iovance Biotherapeutics in the fourth quarter worth approximately $36,000. Impact Partnership Wealth LLC bought a new stake in shares of Iovance Biotherapeutics during the 4th quarter worth approximately $83,000. Kazazian Asset Management LLC purchased a new position in Iovance Biotherapeutics during the 4th quarter valued at $84,000. Finally, Clear Creek Financial Management LLC bought a new position in Iovance Biotherapeutics in the 4th quarter valued at $91,000. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

Iovance Biotherapeutics Price Performance

Shares of IOVA stock traded up $0.09 during mid-day trading on Wednesday, hitting $2.94. 4,900,809 shares of the stock traded hands, compared to its average volume of 9,681,463. The stock's fifty day moving average is $4.42 and its two-hundred day moving average is $7.16. Iovance Biotherapeutics, Inc. has a 52-week low of $2.70 and a 52-week high of $14.23. The stock has a market cap of $962.32 million, a P/E ratio of -1.98 and a beta of 1.05.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.26). The company had revenue of $73.69 million during the quarter, compared to analyst estimates of $72.17 million. Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. As a group, equities analysts forecast that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IOVA shares. HC Wainwright reissued a "buy" rating and set a $32.00 target price on shares of Iovance Biotherapeutics in a research note on Friday, February 28th. Piper Sandler lowered their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Robert W. Baird reduced their target price on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group lowered their price target on Iovance Biotherapeutics from $22.00 to $19.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Finally, Chardan Capital reduced their price objective on Iovance Biotherapeutics from $34.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.25.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.